EUR/USD Price Analysis: Further retracement looks likely


  • EUR/USD remains under pressure in the 1.0800 neighbourhood.
  • Interim support emerges at May’s low at 1.0766.

EUR/USD is prolonging the consolidative note in the lower end of the monthly range so far on Friday.

While further consolidation looks likely in the very near-term, a move lower to test monthly lows in the 1.0770/65 band remains well on the table in the short-term horizon.

In the meantime, the 1.1020 region – where coincide May highs and the 200-day SMA – is seen capping the upside for the time being. Above this area, the downside pressure is expected to mitigate somewhat.

EUR/USD daily chart

EUR/USD

Overview
Today last price 1.0813
Today Daily Change 26
Today Daily Change % 0.07
Today daily open 1.0805
 
Trends
Daily SMA20 1.0848
Daily SMA50 1.0927
Daily SMA100 1.0982
Daily SMA200 1.1022
 
Levels
Previous Daily High 1.0824
Previous Daily Low 1.0775
Previous Weekly High 1.0981
Previous Weekly Low 1.0767
Previous Monthly High 1.1039
Previous Monthly Low 1.0727
Daily Fibonacci 38.2% 1.0794
Daily Fibonacci 61.8% 1.0805
Daily Pivot Point S1 1.0778
Daily Pivot Point S2 1.0752
Daily Pivot Point S3 1.0729
Daily Pivot Point R1 1.0828
Daily Pivot Point R2 1.085
Daily Pivot Point R3 1.0877

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD pierces 1.1655 resistance as firmer sentiment weighs on USD

EUR/USD is holding higher ground above 1.1650 ahead of the German IFO survey. Weaker US Treasury yields, risk reset weigh on US dollar. ECB, US GDP in focus but China headlines, Fed tapering concerns will lead the sentiment.

EUR/USD News

GBP/USD jumps towards 1.3800 amid Brexit hopes, weaker dollar

GBP/USD is advancing towards 1.3800, snapping a two-day downtrend as the US dollar loses ground amid an improving risk tone. UK's Frost hints at compromise on Northern Ireland’s post-Brexit trade rules. BOE-speak, China news in focus. 

GBP/USD News

Gold hovers around $1,800 amid softer USD

Gold trades with gains on Monday, extending the previous week’s upside momentum. The yellow metal posts the gains for the fifth straight session. The US benchmark 10-year Treasury yields trade below 1.65%, with 0.78% losses, enhancing non-yielding bullion’s appeal.

Gold News

SafeMoon price presents a buy opportunity before 35% gains

SafeMoon price coils up under a crucial resistance level at $0.00000239. A sudden burst in buying pressure that shatters this barrier can kick-start a 35% ascent. In some cases, SAFEMOON could pull back to $0.00000198 or $0.00000175 support floors.

Read more

Wall Street Week Ahead: Huge week of earnings ahead AAPL, MSFT, GOOGL, AMZN, FB

Equity markets remain elevated with more all-time highs on Thursday for the broader S&P 500 while the Dow registered new highs on Wednesday and Thursday. So far late into Friday's session, the markets are seeing some profit-taking to end a solid week.

Read more

Forex MAJORS

Cryptocurrencies

Signatures